Fuel Import Duty Hikes: Tinubu Approves 15% Ad-Valorem Tariff

President Bola Tinubu has given his approval for a 15 percent ad-valorem import duty on diesel and premium motor spirit (PMS), commonly known as petrol.

According to a letter dated October 21, 2025, the President’s private secretary, Damilotun Aderemi, informed the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of the decision.

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The approval follows a request by FIRS to apply the 15 percent duty on the cost, insurance, and freight (CIF) to align import costs with domestic realities.

The President has also directed NMDPRA to issue relevant regulations to guide the policy, prioritizing local production before issuing import licenses. Additionally, he ordered a periodic review of the tariff rate and its necessity, including provisions for scaling or sunset measures as domestic refining capacity expands.